Car Rental News

Eco Rent A Car, an India-based ground transportation service provider, has named Gautam Nath as its new chief executive. Nath will spearhead the company’s operations as it enters into a new phase of growth and expansion.

Zoomcar has closed US$24 million in a Series B investment round led by Ford Smart Mobility, a subsidiary of Ford Motor Company. Existing investors Sequoia Capital, Nokia Growth Partners and Empire Angels also participated. The funds will be used primarily to accelerate its marketplace model, along with furthering its technological lead.

Dubai Airports has teamed up with rentalcars.com to provide passengers with an easy and cost effective way to rent a car directly from the Dubai Airports website. The new multi-lingual service – available in English and Arabic – allows customers to browse and select rental options in more than 160 countries and 28,000 locations. The page also provides a list of car rental companies available at Dubai International and Al Maktoum International at Dubai World Central, with a link to a map of the two airports.

Another hot supercar released by Ferrari, the 488 GTB, has been added to the purchase list at Signature Car Hire. A mid-engine V8 sports car that features design influences from F1 and WEC is set to get car enthusiasts fighting to get a first glimpse at this new stunning performance vehicle.

The global car rental market was valued at US$37 billion in 2013, according to research from Transparency Market Research, a figure expected to reach US$80 billion by 2019. The research, released in a report entitled Car Rental Market - Global and US Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013-2019 – expects the market to grow at a CAGR of 13.6 per cent from 2014 to 2019.

A recent survey found that more than 75% of summer leisure travelers are planning to drive to their destination this summer, driving an average of 689 miles round-trip. In fact, this past Independence Day, AAA forecasted roughly 35 million travelers traveled by automobile, the highest level since 2007.

According to a new market report published by Transparency Market Research “Car Rental Market - Global Industry Analysis, Size, Share, Growth, Trends and Forecast, 2013 - 2019,” global car rental market was valued at USD 36.89 billion in 2013, growing at a CAGR of 13.6% from 2014 to 2019 to account for USD 79.46 billion in 2019.

Nowhere in the United States is renting a car more costly than in New York City according to a new survey. In coming up with the rankings, the survey compared 50 main destinations in the USA based on their car rental rates over the past 12 months.

With new generation of clients arriving and market research showing a dearth of car rental service providers with international standard of service, Al Farrad Car Rental Company was founded in 2003. Now, a decade later, that vision, to fill this void and to provide the best services possible, is still evident.

An estimated 34.1 million Americans are expected to travel at least 50 miles from home this Labor Day weekend, the highest turn out since 2008, when the recession was at its peak, the American Automobile Association reports. Gas prices are also down, nearly 5 percent, another plus for vacationers. However, for those renting a car, it can be confusing, frustrating and downright daunting.